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Our Bureau

Mumbai , July 26

GlaxoSmithKline Pharmaceuticals Ltd has posted a net profit of Rs 91.06 crore for the second quarter ended June 30, 2006, down 12 per cent from Rs 103.46 crore in the corresponding quarter the previous year.

It recorded total income (net of excise) of Rs 425.65 crore (Rs 478.46 crore), the company told the Bombay Stock Exchange.

The company says it has registered a sales growth of 13 per cent during the half-year ended June 30, 2006. "Sales during the first quarter of 2005 were significantly impacted due to VAT (value-added tax) implementation uncertainties. Resolution of these issues led to exceptionally strong sales in the second quarter of 2005," GSK Pharma informed BSE.

GSK Pharma shares were marginally down at Rs 1,016.15 on the BSE.

More Stories on : Pharmaceuticals | Glaxosmithkline Pharmaceuticals Ltd

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